NNN REIT (NNN) FY2024 results: revenue $869 million, up 5.0% on the year
NNN REIT, Inc. (NNN) reported revenue of $869 million for fiscal 2024, the year ended 31 December 2024, up 5.0% on the year before. Net income was $397 million, up 1.1%, and diluted earnings per share $2.15. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2025.
Revenue
$869 million
+5.0% on the year
FY2017FY2024
Operating margin
66.5%
67.0% a year earlier
FY2017FY2024
Net income
$397 million
+1.1% on the year
FY2017FY2024
Diluted EPS
$2.15
-0.5% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
636
612
578
+3.8%
Cash from investing
-424
-681
-778
Cash from financing
-207
66.6
34.7
Depreciation and amortisation
250
239
224
+4.6%
Share-based compensation
11.8
12.2
15.4
-3.4%
Dividends paid
420
404
381
+3.9%
Dividend per share
$2.29
$2.23
$2.16
+2.7%
Diluted shares, weighted
184m
182m
177m
+1.3%
Shares outstanding at period end
188m
182m
181m
+2.8%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
4,362
4,157
4,124
+4.9%
Non-controlling interest
n/a
n/a
0.0
Debt
4,374
4,361
3,916
+0.3%
Other liabilities
137
144
106
-5.1%
Total liabilities and equity
8,873
8,662
8,146
+2.4%
Cash and equivalents
8.7
1.2
2.5
+634.3%
Other assets
8,864
8,661
8,144
+2.3%
Total assets
8,873
8,662
8,146
+2.4%
10-K for the year ended 31 December 2024, filed 11 February 2025: the filing.